Empresa Distribuidora Y Comercializadora Stock Forecast
Empresa Distribuidora Y Comercializadora stock price up 1.16% on Friday
(Updated on Apr 26, 2024)
The Empresa Distribuidora Y Comercializadora stock price gained 1.16% on the last trading day (Friday, 26th Apr 2024), rising from $16.45 to $16.64. During the last trading day the stock fluctuated 3.82% from a day low at $16.25 to a day high of $16.87. The price has fallen in 6 of the last 10 days and is down by -4.97% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 38 thousand more shares were traded than the day before. In total, 70 thousand shares were bought and sold for approximately $1.17 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.17% during the next 3 months and, with a 90% probability hold a price between $12.88 and $17.58 at the end of this 3-month period.
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EDN Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.42%. Further rise is indicated until a new top pivot has been found. Empresa Distribuidora Y Comercializadora has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Empresa Distribuidora Y Comercializadora stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $17.25. On a fall, the stock will find some support from the short-term average at $16.55. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Empresa Distribuidora Y Comercializadora stock
On the downside, the stock finds support just below today's level from accumulated volume at $15.68 and $15.16. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Empresa Distribuidora Y Comercializadora finds support just below today's level at $15.68. If this is broken, then the next support from accumulated volume will be at $15.16 and $14.85.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.620 between high and low, or 3.82%. For the last week, the stock has had daily average volatility of 6.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EDN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Empresa Distribuidora Y Comercializadora Norte SA (Edenor) to open at $16.59, and during the day (based on 14 day Average True Range), to move between $15.58 and $17.70, which gives a possible trading interval of +/-$1.06 (+/-6.36%) up or down from last closing price. If Empresa Distribuidora Y Comercializadora Norte SA (Edenor) takes out the full calculated possible swing range there will be an estimated 12.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.85 (1.26%) than the support at $15.68 (5.77%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Empresa Distribuidora Y Comercializadora Norte SA (Edenor) stock A Buy?
Empresa Distribuidora Y Comercializadora holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.306 Sell Candidate Unchanged
Predicted Opening Price for Empresa Distribuidora Y Comercializadora Norte SA (Edenor) of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$16.59 ( 0.321%) | $16.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.21 | 3.41 % | |
R2 | 16.97 | 1.98 % | ||
R1 | 16.82 | 1.10 % | ||
Current price: | 16.64 | |||
Support | S1 | 16.35 | -1.74 % | |
S2 | 16.20 | -2.62 % | ||
S3 | 15.97 | -4.05 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 19.30 | 15.99 % | |
R2 | 18.40 | 10.58 % | ||
R1 | 16.85 | 1.26 % | ||
Current price | 16.64 | |||
Support | S1 | 15.68 | -5.77% | |
S2 | 15.16 | -8.89% | ||
S3 | 14.85 | -10.76% |
FAQ
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